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OfflineSporeJunkie
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Stock Market Tips
    #26992105 - 10/18/20 10:25 PM (3 years, 3 months ago)

I just got Robinhood set up on my phone. I’d really like to get into buying/selling stocks. It’s just such an intimidating process to get started. Do any of you guys have any beginner tips or pointers? Any help at all is greatly appreciated.


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OfflineHikeadellic
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Re: Stock Market Tips [Re: SporeJunkie] * 1
    #26992139 - 10/18/20 11:16 PM (3 years, 3 months ago)

Buy an asset (crypto or stock) wait for it to go up 1 or 2 %, sell it. over and over. If you have less then $25g to trade you only have access to 5 stock day trades a week. Crypto its unlimited day trades on robinhood. I treat crypto as spectulative just to fuck around with and have most in more reliable stock that's pretty much guaranteed to go back up over time. Keep your portfolio diverse and wait until something crazy happens in the market and it spikes. Don't get greedy, keep it low and slow, then you can spend all your money on blow!  :cokeitch:


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InvisibleAhab McBathsalts
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Re: Stock Market Tips [Re: Hikeadellic]
    #26992346 - 10/19/20 06:03 AM (3 years, 3 months ago)

Save some profits for tax time. 

Your tax deductible losses applied to other income are limited to $3000 in the USA. You need to track your purchases and sales for your adjusted cost and tax reporting, but it's likely Robinhood issues you a document for tax time.

Quote:

A wash sale is a sale of a security (stocks, bonds, options) at a loss and repurchase of the same or substantially identical security shortly before or after. Losses from such sales are not deductible in most cases under the Internal Revenue Code in the United States. Wash sale regulations disallow an investor who holds an unrealized loss from accelerating a tax deduction into the current tax year, unless the investor is out of the position for some significant length of time. A wash sale can take place at any time during the year, or across year boundaries.




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OfflineBrian Jones
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Re: Stock Market Tips [Re: SporeJunkie]
    #26992376 - 10/19/20 06:42 AM (3 years, 3 months ago)

My tip would be to wait for a bull market. That's when all us amateurs look like we know what we're doing.

You can get a simulator account to practice with.


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OfflineSporeJunkie
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Re: Stock Market Tips [Re: Brian Jones]
    #26992383 - 10/19/20 06:50 AM (3 years, 3 months ago)

Ok thanks guys I’ll keep all these things in mind. I guess I’ll just continue to research it and start really slow. I just don’t want to fuck myself and lose everything.


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